Plains GP (NYSE:PAGP) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, February 20th.
Several other equities analysts have also recently weighed in on the stock. Morgan Stanley raised shares of Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Tuesday, February 13th. SunTrust Banks set a $24.00 price objective on shares of Plains GP and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine cut shares of Plains GP from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Bank of America began coverage on shares of Plains GP in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Zacks Investment Research cut shares of Plains GP from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.11.
Shares of Plains GP (NYSE PAGP) traded down $0.23 during mid-day trading on Tuesday, reaching $22.91. 1,472,177 shares of the company’s stock traded hands, compared to its average volume of 1,655,655. The company has a quick ratio of 0.73, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a market cap of $6,730.00, a P/E ratio of 34.19 and a beta of 1.35. Plains GP has a 52-week low of $18.98 and a 52-week high of $32.24.
In other news, Director Oscar K. Brown purchased 7,100 shares of Plains GP stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $22.51 per share, for a total transaction of $159,821.00. Following the completion of the acquisition, the director now owns 7,100 shares in the company, valued at approximately $159,821. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 39.93% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Talara Capital Management LLC boosted its holdings in Plains GP by 0.6% in the fourth quarter. Talara Capital Management LLC now owns 821,554 shares of the pipeline company’s stock valued at $18,033,000 after acquiring an additional 5,024 shares during the last quarter. SG Americas Securities LLC acquired a new position in Plains GP in the fourth quarter valued at approximately $475,000. Barings LLC acquired a new position in Plains GP in the fourth quarter valued at approximately $225,000. Bessemer Group Inc. lifted its stake in Plains GP by 71.7% in the third quarter. Bessemer Group Inc. now owns 47,630 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 19,882 shares during the period. Finally, Swiss National Bank lifted its stake in Plains GP by 6.3% in the third quarter. Swiss National Bank now owns 533,315 shares of the pipeline company’s stock valued at $11,664,000 after buying an additional 31,700 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.
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Plains GP Company Profile
Plains GP Holdings, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Through its three business segments, the Company is engaged in the transportation, storage, terminaling and marketing of crude oil, NGL and natural gas.
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